Lloyds TSB Act 1998
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Long titleAn Act to provide for the transfer to and vesting in Lloyds Bank Plc of the undertakings of TSB Bank plc and Hill Samuel Bank Limited; and for connected purposes.
Royal assent31 July 1998
Commencement28 June 1999
| Act of Parliament | |
.svg) | |
| Long title | An Act to provide for the transfer to and vesting in Lloyds Bank Plc of the undertakings of TSB Bank plc and Hill Samuel Bank Limited; and for connected purposes. |
|---|---|
| Citation | 1998 c. v |
| Dates | |
| Royal assent | 31 July 1998 |
| Commencement | 28 June 1999 |
Status: Current legislation | |
| Text of statute as originally enacted | |
The Lloyds TSB Act 1998 (c. v) is a local act of the United Kingdom Parliament, to provide for the transfer to and vesting in Lloyds Bank plc of the undertakings of TSB Bank plc and Hill Samuel Bank Limited (members of the Lloyds TSB Group); and for connected purposes.
The Lloyds TSB merger was structured as a reverse takeover; Lloyds Bank Plc was delisted from the London Stock Exchange and TSB Group plc was renamed Lloyds TSB Group plc on 28 December 1995, with former Lloyds Bank shareholders owning a 70 per cent equity interest in the share capital, effected through a scheme of arrangement.
